Tire Curing Press Machine Market Growth Analysis By Top Leading Key Players Such As Larsen & Toubro Limited, Harburg-Freudenberger Maschinenbau GmbH, Mitsubishi Heavy Industries Machinery Technology Corporation, McNeil & NRM, Inc., Alfred Herbert (India)

Tire curing press machine is a machine used for giving a final shape to green tires by applying pressure. The machine generates heat that stimulates chemical reaction between rubber and other materials. Tire curing press machine offers several advantages such as precise control and maximum efficiency, quick bladder change, reduced mould damage, increased bladder life, ease of maintenance, and increased productivity of tires.

Increasing demand for green tires, owing to emission control is one of the major factors driving growth of the market

Increasing demand for green tire owing to emission control is one of the major factors driving growth of the global tire curing press machine market. Use of green tire in vehicles offer low rolling resistance and improved fuel efficiency, which further helps in decreasing emission from the vehicle. Therefore, such advantages of green tires is further expected to increase production of green tires in the near future. This factor in turn is expected to inadvertently increase demand for tire curing press machine. Furthermore, tire curing press machine does not require regular maintenance, which helps to reduce overall operational and maintenance cost. Therefore, all these factors contribute to growth of the tire curing press machine market over the forecast period.

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However, lack of awareness among the manufacturer about the benefits of tire curing press machine is one of the factors hampering growth of the tire curing press machine market.

Global Tire Curing Press Machine Market: Segment Trends

Among product type, the hydraulic tire curing press machine segment is expected witness significant growth with highest CAGR over the forecast period. The hydraulic tire curing press machine offers smoother operation as compared to mechanical tire curing press machine, as it generates less noise during curing process. Moreover, the press is easy to operate, requires low maintenance cost, and less space as compared to mechanical tire curing press machine. Therefore, these factors are propelling demand for hydraulic tire curing press machine segment in the market over the forecast period.

Global Tire Curing Press Machine Market: Regional Insights

The global tire curing press machine market in Europe accounted for the largest market share in 2017, and expected to retain its dominance over the forecast period. This is owing to the presence of key manufacturers such as Lanxess, Evonik Industries AG, Continental Tire AG in the region, especially in Germany. Moreover, stringent government rules and regulation for reducing greenhouse emission from vehicles is one of the major factors responsible for increasing production of green tire in Europe. For instance, in April 2009, the European government passed EU Regulation No 443/2009, which states that an average CO2 emission for new passenger cars is 130 grams per kilometer and is expected to be reduced to 95 grams per kilometer by 2021.

Moreover, in November 2017, the EU set an emissions target for 2020, which is 147 gram of Co2 per kilometer for light commercial vehicles. Silica and Nano materials are used for manufacturing green tires. According to a report published by SciELO, 2017, use of silica and Nano materials results in 20% reduction in rolling resistance of the tire, which in turn lowers greenhouse gas emission. Increase production of green tires, which in turn is propelling demand for tire curing press machine in Europe.

The global tire curing press machine market in Asia Pacific is expected to witness significant growth with highest CAGR over the forecast period. This is owing to investments by key players in the region for increasing production of green tires. For instance, in January 2017, according to the press release of Continental AG, the company invested US$ 289.63 million to start a new plant in Thailand. The plant manufactures green tires for passenger cars and light-weight trucks. Such investments are expected to propel growth of the global tire curing press machine market in Asia Pacific.

Global Tire Curing Press Machine Market: Competitive Landscape

Key players operating in the global tire curing press machine market include, Larsen & Toubro Limited, Harburg-Freudenberger Maschinenbau GmbH, Mitsubishi Heavy Industries Machinery Technology Corporation, McNeil & NRM, Inc., Alfred Herbert (India) Ltd., Specific Engineering Corporation Pvt. Ltd., Rogers Industrial Products Inc., Cima Impianti S.p.a., Guilin Rubber Machinery Co., Ltd., Greatoo Intelligent, and Ling Long Tire.

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